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Look around you. Chances are you’re surrounded by manufactured products from the chair you’re sitting on, to the device you’re reading this on. Each step along the manufacturing process of those products has some impact on the environment.
At the beginning of this year, the global price of carbon was $24.05 per ton of CO2. In order to achieve the emissions-reduction goals of members of the Paris climate agreement, prices need to reach a range of $50 to $100 per ton of CO2. That makes buying carbon an attractive investment.
The ongoing concerns about climate change have spawned several emissions-trading schemes over the last decade. The reasoning is simple: If left unchecked, carbon emissions (among other factors) will have a material impact on our environment and will do severe damage to the global economy.
The ratification of the Kyoto Protocol of 2007, by world governments, effectively addressed the challenge, establishing rules of carbon emissions and, in the process, created an entirely new asset class.
2.
A spokesperson for Porthos told Upstream the Dutch government would help bridge the gap in costs between the European Union Emissions Trading Scheme (ETS) and the costs of CCS via the subsidies. The subsidy scheme is structured in such a way that the government annually only pays out the actual difference between the ETS and the costs of CCS as a subsidy, she said. The ETS price is likely to increase, and so the amount of subsidy will probably decrease. With the subsidy, companies can decrease their CO
2 emissions, but will not experience a competitive disadvantage compared to their international competitors.
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The great bond bull market of the past 40 years has made millionaires out of many, so has the rise of blockchain, cryptocurrencies and the digitalization of the financial system. Another such paradigm shift upon us is the worlds unified move to decarbonize and green the economy.
What we are witnessing is a worldwide push for industries to move away from excessive greenhouse gas (GHG) emissions. Such unification around a common goal is perhaps unlike anything we have witnessed in the entire history of humanity. With governments and companies worldwide fully committing to the green transition and most aiming for net-zero emissions by the middle of this century, many are taking several significant steps to achieve this goal.